YOU'RE NEXT!

 I loved the show ‘The Price is Right” as a kid and I have even been down to CBS TV   to do it a few times, but that’s another story. 

But what did come down this week was mortgage rates and inventory. 

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory.

So..what does this mean for you?  We are not yet seeing the typical increase in seasonal spring inventory increases and the drop in mortgage rates and the low inventory is causing prices to be neutral and even see multiples for well located, move in, ready homes.  There are A LOT of buyers  in the wings.  Every agent friend of mine is in the same boat.  Several buyers and nothing for them to buy. 

If you are on the fence, either way buying or selling, give us a call to get a little more inside info. 

We deeply appreciate the trust and partnership you have extended to us. As some of the best realtors in Los Feliz and Greater Los Angeles, the Riley Real Estate & Home Mortgage team is dedicated to assisting you in discovering your dream home in the beautiful neighborhood of Los Feliz and surrounding Los Angeles areas.  We eagerly anticipate the opportunity to serve you in buying, selling, investing and mortgages and earn our reputation as a top realtor and make your real estate aspirations a reality.

Best,

Riley Schmidt